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Article 11
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Where an issuing company applies for initial listing of its common stock or various preferred stock, it shall allocate a percentage, as specified by this Corporation, of the total number of shares stated on its listing application documents and retain a securities underwriter to offer in full such shares for sale to the public before the shares are listed, by means of a cash capital increase through a new share issue in accordance with the provisions of Article 71, paragraph 1, of the Securities and Exchange Act concerning underwriting of securities on a firm commitment basis. Provided, that a state-owned enterprise or an applicant under Article 6 or Article 6-1 may carry out underwriting with stock already publicly offered and issued by the company.
The total number of shares to be allocated by the issuing company for public sale under the preceding paragraph shall be calculated by the method specified in Article 10, paragraph 2, and shares added during the period from the listing application date until the listing date shall be included in the calculation; provided, shares allocated for public sale shall be confined to shares of publicly offered and issued common stock.
The provisions of paragraph 1 regarding the percentage of shares that shall be allocated for public sale before listing shall not apply to a company applying for exchange-listing whose shares are already listed for trading on the GreTai Securities Market in accordance with Article 3 of the GreTai Securities Market Rules Governing Review of Securities Traded on Over-the-Counter Markets, and that must retain a securities underwriter to conduct a public sale of shares before listing because it is not in conformance with the equity ownership dispersion standards of these Rules.
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